June tax revenues boost Coalition’s arsenal

Finance Minister Michael Noonan will have significant amount of fiscal fire-power in his October budget to help bolster the Coalition’s re-election bid, analysts said, as exchequer figures showed tax revenues flowing into the exchequer’s coffers.

Pre-election giveaways could amount to as much as €2.5 billion, if there were no EU fiscal controls in place.

Mr Noonan yesterday presented another set of buoyant figures, showing the exchequer had collected tax revenues of over €2.1bn in the first six months this year, an increase of 11.7% from last year.